eWallets / Cash is going extinct as eWallets take over in 2024! Is this the end of money as we know it?
The year 2024 is being heralded as the extinction event for cash. Physical currency is rapidly going the way of the dinosaurs in favor of mobile and digital payments. At the forefront of this transition are eWallet apps which are replacing both cash and cards for in-store and online transactions.
Powerful eWallets like PayMaya, GrabPay, and GCash now dominate point-of-sale payment, especially in urban areas. One tap on your smartphone is all it takes to make purchases and transfers. No more fumbling with change or tracking down ATMs. Going cashless is more secure, and seamless, and adds money management features through a single app.
Digital Lifestyles
For many consumers, going completely cashless in 2024 simply reflects their increasingly digital lifestyles. But it hasn’t been without challenges. Web access disparities can limit eWallet adoption. And small vendors still rely heavily on cash and cards.
Privacy and tech interruptions also raise concerns about reliance on apps for payments. But with smart workarounds like prepaid cards and offline backups, eWallets reflect the wave of the future.
Cash-free Future
2024 is cementing the realization that extinction comes for all things eventually – even cash. As eWallets rise up to dominate the payments ecosystem, the appeal of instant transactions right from your phone is hard to pass up. The forecast is bright for a cash-free future.
I don’t care to use all the e wallet apps; I prefer to continue to use cash instead of using credit card. If there is something that I really would like, I save for it. Thanks for sharing this with us.
Digital wallets are indeed taking over the way we handle money. With the convenience of mobile payments and secure transactions, it’s no surprise that they are becoming the preferred choice for many people.
The concept of cash going extinct and being replaced by eWallets is a testament to the rapid pace of technological advancement in our society. It’ll be interesting to see how this evolution continues to unfold.
Yes, 100% true.
Personally, I don’t think we are there yet. Cash is still important in some societies and will continue to be for some time. E-wallets and digital transactions are great, but if one is in an area where there is no connectivity, cash is still king!
Yes, agree with you. It might be that we may use e-wallet or cash. The thing is, we should keep up with time and embracing the benefits of e-wallet is in order.
I’m old school and still using cash and cards. I’ve never tried using ewallet yet but if that what we’re going to use in the future, then so be it.
Hi Lynndee. I think we should embrace technology, whether we like it or not.
E-wallets came to india in 2020 during covid and we use it in most of the cases but I also think we should have cash for emergency. Techno is good but still!
Hi Moni. Agree with you. life is better with many options.
I found your article on the end of cash and the rise of e-wallets in 2024 really intriguing! It’s fascinating to see how technology continues to shape our daily lives, especially in the realm of finance. Your insights into the growing popularity of e-wallets and their impact on our economy shed light on an important trend. I appreciate the depth of research and analysis you’ve put into this piece. Looking forward to reading more from you!
I think it’s not yet the end but we have to acknowledge that there is already a huge shift to cashless transactions. I guess in the future it will be a completely cashless society.
You’re absolutely right! The last time I carried cash was a few years ago! Ewallets are very convenient and now are widely permitted.
Cash is definitely close to the end. We still use it though, mostly to buy handmade stuff from old people but apart of it. It’s a little sad, I have always had fascination over physical money.
I’m so guilty of this! I essentially use my credit card to pay for everything and make regular payments through my banking app throughout the month. Going to the bank to withdraw cash seems so tedious these days!
Hi Emily. You may use your saving accounts to pay for groceries. Thus, no need to carry cash when shopping.
I have been saying this for years that ecash is about to eclipse cash in our societies. Ofcourse there are still som countries that aren’t quite there as yet but soon enough they will catch on. For example Jamaica, a little at a time their cash system is evolving to this system of transactions.
I am glad you did. Yes this is a universal currency in the future – no more cash but cards.
I’m a bit of a dinosaur, I guess because I still carry cash. I have so many friends who don’t, though. I do think it’s becoming more and more rare.
Hi Beth. ha..ha.. lets carry more cards but less cash. Regards.
I admit that I don’t usually carry cash either. I do carry my cards but e-wallets are convenient.
You’re so right!! I never have cash on me anyways so it’s not a really big difference for me! It’s so convenient to just flash your phone and have it paid for instead of dealing with cash.
The number of places that accept cash has greatly reduced. There are many different payment options available which can help. I don’t make payments via apps, I don’t feel comfortable using them.
I haven’t used cash more often since the start of the pandemic. I only used e-wallets to make transactions for safety but as everything is back to normal I started using cash as normal vendors don’t have access to the e-wallets or online transactions.
Part of me has a hard time accepting this. But I know a lot of businesses are going cashless, so it makes sense!
I don’t even know the last time I used cash for something! I am a little afraid to use Apple Pay though!
This is interesting and it is evolving, the cash will be less used as we progress toward the future. China now can pay with a face scan. Thank you for sharing!